Solar Panel Cost Guide in Palm Tree, NY (2024 Update)
- Palm Tree Solar Installation Cost: $11,058
- 25-Year Savings: $18,162
- Payback Period: 10.2 Years
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Average Cost of Solar Panels in Palm Tree
Here’s how much it might cost to go solar in Palm Tree.
Although the national average of solar panels is $2.66 per watt, solar panels in Palm Tree generally cost about 4.To account for the typical energy needs of the average home in Palm Tree, most homeowners require a 4.3-kilowatt system. Using the per-watt figure above, a solar installation costs about $11,058, or $15,813 before the federal solar tax credit of 0 is applied.
Bear in mind that the figures above are only estimates based on the average Palm Tree homeowner. The cost of a solar system for your home may look different depending on factors unique to your situation, like your household energy use and solar contractor.With average savings of about $24,000 on power bills over 20 years, many homeowners in Palm Tree find going solar has a decent ROI.
To get a free quote from a top solar installer in Palm Tree, you can click the button below.
Solar savings over time in Palm Tree
| Year | Return on Investment |
|---|---|
| 1 years | $-9,717 |
| 3 years | $-7,035 |
| 5 years | $-4,353 |
| 7 years | $-1,671 |
| 9 years | $1,010 |
| 11 years | $3,692 |
| 13 years | $6,374 |
| 15 years | $9,055 |
| 17 years | $11,737 |
| 19 years | $14,419 |
| 21 years | $17,101 |
| 23 years | $19,782 |
| 25 years | $22,464 |
Top Solar Installers in Palm Tree
Trying to install solar panels by yourself can be a dangerous project, which is why getting a solar installation company is a good option for many homeowners. Another advantage of using a solar company is that they can help you optimize your investment by lowering your future costs of repairs and replacements due to warranties and informing you of local incentives you can take advantage of.
If you’d like to switch to solar energy but still aren’t certain which solar installer to go with, here are our suggestions for providers near you:
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Palm Tree
Factors that Affect Solar Panel Costs in Palm Tree
For many Palm Tree homeowners, the decision to go solar comes down to cost. However, the range of solar installation costs can be quite wide in Palm Tree, with typical prices between $20,000 to $40,000. There are numerous factors that significantly influence the price you’ll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the price of a solar energy system in Palm Tree, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are chiefly based on your home’s energy consumption, which you can determine by looking at past energy bills. Your total cost can increase by around $3,650 for each additional kilowatt you need.The brand and type of equipment you choose for your solar system can raise or lower the price quite significantly. If you prefer a trusted brand name like Tesla or SunPower, these often come at a higher price than other brands. Efficiency also matters. Whether you’re opting for high efficiency because you have a small roof or just want maximum energy production, you will be looking at a higher equipment cost, but this can typically lead to greater savings over time. Plus, if you want add-ons like an electric vehicle charger or solar batteries, this will also raise the cost.
Solar Financing Terms
Most solar installers in Palm Tree offer solar loans, which reduce your upfront costs of installing solar panels.However, the interest on solar loans also adds to your all-in costs, so it’s important to include that in your estimate as well. You can always lower the total you pay in interest and possibly even your APR by putting more money down.
Solar Panel Installation Company
The solar company you go with to handle your switch to solar energy can play a part in your total costs. There are about 3 solar installation companies operating throughout Palm Tree, and each can charge different amounts for labor and equipment.Some companies only sell products with high efficiency and therefore a higher price point — like Maxeon solar panels from SunPower or Tesla Powerwall batteries — so choosing those installers will generally come at a higher cost. It’s best to do some research and choose a company that offers the products, warranties and services you want and also is within your budget.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.80 | $15,943 | $21,627 | 10.6 years |
| 8 kW | $3.72 | $20,849 | $29,245 | 10.4 years |
| 10 kW | $3.65 | $25,550 | $37,067 | 10.2 years |
| 12 kW | $3.58 | $30,047 | $45,093 | 10.0 years |
| 14 kW | $3.50 | $34,339 | $53,324 | 9.8 years |
| 16 kW | $3.43 | $38,427 | $61,759 | 9.6 years |
| 18 kW | $3.36 | $42,311 | $70,399 | 9.4 years |
| 20 kW | $3.29 | $45,990 | $79,243 | 9.2 years |
How to Save on Solar Panels
There are numerous companies available in Palm Tree, and some homeowners feel overwhelmed considering their options. Picking the right company for you can be tough, so here are some tips to help you decide:
- Warranty: A high-quality company rises above other companies by offering the gold standard warranty — a 25-year, all-inclusive warranty covering parts, labor and performance.
- Solar Panel Brands: Different companies will offer different brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Installation Process: When making the switch to solar, it’s essential to maintain an open line of communication with your solar company. See to it that you understand how the installation process works and the project completion timeline.
- Contract: Before signing a contract with a solar company, be sure to look it over carefully so you understand the terms. Also, ask questions if you’re unsure about some of the terms, such as what to do if a part breaks or malfunctions and if there are any guarantees about energy production.
Best Regional Coverage
Momentum Solar
- Great warranty coverage
- Representatives are experts on local policies
- Concierge service ensures steady communication
- Slightly limited service offerings
Best for Leasing
Sunrun
- Expansive service area
- Many financing options
- Some reported issues with customer service
- Some reported issues with door-to-door sales
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Palm Tree, NY Solar Cost FAQs
How much does it cost to install solar panels in Palm Tree?
This is a hard question to answer exactly, because the cost depends on many factors. Broadly speaking, it costs about $18,250 for a 5-kW system and $36,500 for a 10-kW system after the ITC is applied. You can expect to pay more if you want extra solar equipment or higher quality panels, or if you have higher-than-average energy needs. On the other hand, you can spend less if you go with a smaller solar panel system or less expensive solar panels.
Is cost the most important thing to keep in mind when buying solar panels?
Cost is without a doubt one of the most important things to keep in mind when buying solar panels, but other important factors include efficiency, durability, and quality.
Do solar panels increase your home value?
Solar panels can increase the value of your home significantly as long as you buy or finance your panels and don’t choose a solar lease or power purchase agreement (PPA). According to research done by Zillow, the average home value increases by about 4.1% with a solar installation."
What solar power system size is right for my home?
The exact number of solar panels you need depends on your household energy consumption and the average daily sunlight your roof gets. You can look at your energy bills for the past year to get an idea of the solar system size you'll need. The average household has to install between 20 and 35 panels to cover their typical energy usage.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.